Later Life needs more than just Financial Advice

Christine Husbands from Red Arc talks about financial advice in later life.

We know that the UK population is ageing and life expectancies are longer than ever, terms such as “Care Crisis” indicate the difficulties many elderly people and their families face. The complexities of financing life beyond retirement, such as pension freedom choices, long-term care funding or inheritance tax planning, all point to an increasing need for specialist financial advice for later life.

Unfortunately many people find themselves facing these difficult and complicated issues at times of ill health or bereavement, when there are a multitude of other worries and they are at their most vulnerable. People are often overwhelmed by the situation, fearful for their financial situation, loss of independence, deteriorating health and the effect on their partners and families.

Specialist financial advisers provide an excellent service at such a difficult time and being a trusted and empathetic adviser, many find themselves being asked to help with things such as domiciliary care, respite care, accessing medical aids and much more, all of which are outside their remit.
So, it seems to me, that this is an area ripe for the inclusion of the expertise of some of our added value services to dovetail with the financial advice such as:

Many, if not all of these areas interlink closely with financial advice e.g. state benefits, social services allowances, care funding etc. 

The protection industry has many added value service providers, between them with expertise in Long-term care, nurse advice, legal help and relevant technology solutions as well as links to many excellent charities such as Age UK, Carers UK along with the many condition specific charities like Dementia UK, Stroke Association, MS Society etc..

If we could bring together the expertise of Later Life Financial Advisers with the expertise of Added-Value Services, together we could make a real difference to the lives of customers in their later years. 

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